Auditor Report of Senthil Infotek Ltd.

Mar 31, 2015

We have audited the accompanying financial statements of M/s. Senthil Infotek Limited, Hyderabad the ("Company"), which comprise the Balance Sheet as at 31st March, 2015, the Statement of Profit and Loss, the Cash Flow Statement for the year then ended and a summary of the significant accounting policies and other explanatory information.

Management's Responsibility for the Financial Statements

The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 ("the Act") with respect to the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit.

We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are required to be included in the audit report under the provisions of the Act and the Rules made thereunder.

We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal financial control relevant to the Company's preparation of the financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by the Company's Directors, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the financial statements.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India,

(a) in the case of the Balance Sheet, of the state of affairs of the Company as at 31s1 March, 2015;

(b) in the case of the Statement of Profit and Loss, of the profit of the Company for the year ended on that date; and

(c) in the case of the Cash Flow Statement, of the cash flows of the Company for the year ended on that date.

Report on Other Legal and Regulatory Requirements

As required by the Companies (Auditor's Report) order,2015, issued by the Central Government of India in terms of sub-section (11) of Section 143 of the Companies Act, 2013, we give in the Annexure a statement on the matters specified in paragraphs 3 and 4 of the order, to the extent applicable.

As required by Section 143 (3) of the Act, we report that:

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books

(c) The Balance Sheet, Statement of Profit and Loss and Cash Flow Statement dealt with by this Report are in agreement with the books of account.

(d) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

(e) Based on the Written Representation received from the directors as on 31st March 2015, and taken on record by the Board of Directors, we report that none of the directors are disqualified as on 31st March, 2015 from being appointed as a director in terms of Sub- section 2 of Section 164 of the Act.

(f) With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i. The Company has no pending litigations on its financial position which would impact its financial statements - Refer clause No.vii(b) of CARO,2015 ;

Annexure referred to in paragraph 1 of Section Report on Other Legal and Regulatory

Requirements of the Independent Auditor's Report of even date of, Senthil Infotek Limited

Hyderabad on the financial statements for the year ended March 31,2015

i. In respect of fixed assets

() The company is maintaining proper records showing full particulars, including quantitative details and situation of fixed assets;

(b) As explained to us, all the fixed assets have been physically verified by the Management during the year. No material discrepancies were noticed on such verification.

ii. In respect of its inventories: The Company does not have any inventories at the end of the year and hence the clause (ii) of Companies (Auditor's Report) Order, 2015 is not applicable.

iii. In respect of loans:

As informed to us, the company has not granted any loans, secured or unsecured to companies, firms or other parties covered in the register maintained under section 189 of the Companies Act.

iv. In our opinion and according to the information and explanations given to us, there are adequate internal control systems commensurate with the size of the company and the nature of its business for the purchase of inventory, fixed assets and for the sale of goods & services.

v. The company has not accepted any deposits, and hence clause (v) of Companies (Auditor's Report) Order, 2015 is not applicable.

vi. According to the information and explanations given to us, maintenance of cost records under Section 148(1) of the Companies Act, 2013 are not applicable to the company. Hence clause (vi) of Companies (Auditor's Report) Order, 2015 is not applicable.

vii. a) According to the information and explanations given to us and the records as produced and examined by us, in our opinion, the company is regular in depositing undisputed statutory dues including Income tax, Service tax, Customs Duty and other material statutory dues during the year by the company with the appropriate authorities. As explained to us, the company did not have any dues on account of Employee's State Insurance, Sales Tax, Excise duty, Wealth tax and Investor Education and Protection Fund.

According to the information and explanations given to us, no undisputed amounts payable in respect of Provident Fund, Income-tax, Service tax, Customs duty and other material statutory dues were in arrears as at 31 March 2015 for a period of more than six months from the period they became payable.

b) According to the information and explanations given to us, there are no dues of Income tax, Sales tax and customs duty which have not been deposited with the appropriate authorities on account of dispute. As informed to us, the company did not have any dues on account of Wealth tax and excise duty.

viii. The Company does not have any accumulated losses and has not incurred cash losses in the current financial year and in the immediately preceding financial year.

ix. In our opinion and according to the information and explanations given to us, the company has not defaulted in repayment of dues to its bankers and financial institutions.

x. According to the information and explanations given to us the company has not given any guarantee for loans taken by others or banks or financial institutions. Thus paragraph 3 (x) of the order does not apply to the company for the year.

xi. In our opinion and according to the information and explanations given to us, the company has not taken any term loans from banks and financial institutions.

xii. According to the information and explanations given to us, no fraud on or by the company has been noticed or reported during the course of audit.

For P.Srinivasan & Co., Chartered Accountants, Firm Registration No. 004055S

K. Ranganathan Partner Place: Secunderabad M.No:010842 Date: 27/05/2015

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Mar 31, 2014

We have audited the accompanying financial statements of Senthil Infotek Limited (''the company''), which comprise the Balance Sheet as at March 31, 2014, the statement of Profit and loss of the Company and the cash flow Statement of the Company for the year then ended and a summary of significant accounting policies and other explanatory information.

Management''s Responsibility for the Financial Statements

The Company''s Management is responsible for the preparation of these financial statements that give a true and fair view of the financial position, financial performance and cash flow of the Company in accordance with the Accounting Standards notified under the Companies Act, 1956 (''the Act'') read with the General Circular 15/2013 dated 13th September, 2013 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2013 and in accordance with the accounting principles generally accepted in India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

Auditor''s Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures

selected depend on the auditor''s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Company''s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financial statements give the information required by the Act in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India:

a. In the case of the Balance sheet, of the state of affairs of the Company as at March 31,2014;

b. In the case of the Statement of Profit and Loss, of the Profit for the year ended on that date; and

c. In the case of the Cash Flow Statement, of the cash flows for the year ended on that date.

Report on other Legal and Regulatory Requirements

1.As required by the Companies (Auditor''s Report) Order, 2003, as amended (''the Order'') issued by the Central Government of India in terms of Sub- Section (4A) of Section 227 of the Companies Act,1956(''the Act), we give in the Annexure a statement on the matters specified in Paragraphs 4 and 5 of the said Order.

2. As required by Section 227(3) of the Act, we report that:

a. We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purposes of our audit;

b. In our opinion, proper books of accounts as required by law have been kept by the company so far as appears from our examination of those books ;

c. The Balance Sheet, Statement of Profit and Loss and Cash Flow Statement dealt with by this report are in agreement with the books of accounts;

d. In our opinion, the Balance Sheet, Statement of Profit and Loss and Cash Flow Statement comply with Accounting Standards notified under the Act read with the General Circular 15/2013 dated 13th September, 2014 of the Ministry of Corporate Affairs in respect of Section 133 of the Companies Act, 2014.

e. On the basis of written representations received from the Directors, as on 31st March, 2014 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on 31st March, 2014 from being appointed as a director in terms of Section 274(1)(g) of the Companies Act,1956;

Referred to in Paragraphl under the heading of "Report on Other Legal and

Regulatory Requirements" of our report of even date.

1. There are no particulars to be specified regarding the fixed assets under items 4(i) and 4(ii) of the said order as the company has not acquired any major fixed assets during the financial year.

2. According to the information and explanations given to us, the Company has not granted or taken any loans, secured or unsecured to/from companies, firms or other parties covered in the register maintain under Section. 301 of the Companies Act, 1956.

3. As the company has not granted or taken loans to/from companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 the clause relating to rate of interest and other terms and conditions of loans given or taken by the company, secured or unsecured, which are prima facie prejudicial to the interest of the company is not applicable to the company.

4. As the company has not taken loans from/ granted to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 the clause relating to the regular payment of principal amount and interest is not applicable to the company.

5. As the company has not taken loans from or granted to companies, firms or other parties listed in the register maintained under section 301 of the Companies Act, 1956 the clause relating to steps taken for recovery/payment of the principal and interest on overdue amount of more than one lakh, is not applicable to the company.

6. In our opinion and according to the information and explanations given to us, there are adequate internal control procedures commensurate with the size of the company and the nature of its business with regard to purchase of inventory, fixed assets and with regard to the sale of goods are not applicable to the company.

7. The Company has not accepted deposits from the public during the year under review within the purview of section 58A and 58AA of the Companies Act 1956 and the rules framed under.

8. The internal audit system is not applicable.

9. The maintenance of cost records under Section 209(1) (d) of the Companies Act, 1956 are not applicable to the company.

10. Provisions of the Provident Fund Act and Employees State Insurance Act are not applicable to the Company.

11. According to the information and explanation given to us and the books examined by us, there are no amounts outstanding as on the date of the balance sheet in respect of undisputed Income-Tax, Sales-Tax, Wealth Tax, Custom Duty, Excise Duty, Cess and any other statutory dues applicable to it for a period not more than six months from the date they become payable

12. Items No.4 (a) (ix) to 4(a) (xxi) of the said orders are not applicable.

The Company has only one class of equity shares having par value of Rs.10 per share.Each holder of Equity shares is entitled to one vote per share

For P.SRINIVASAN & Co., Chartered Accountants Firm''s Registration No.004055S

K.RANGANATHAN Secunderabad Partner 29-05-2014 Members hip N o. 010842

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Mar 31, 2012

We have audited the Balance Sheet of Senthil Infotek Limited as at 31 March 2012 and the profit and loss account for the year ended on that date annexured here to and the cash flow statement for the period ended on the date. These Financial Statements are the responsibility of the Company's Management. Our responsibility is to express an opinion on these financial statements based on our audit.

We have conducted our audit in accordance with auditing standards generally accepted in India. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit Includes examining, on a test basis, evidence supporting the amount and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reason-able basis for our opinion.

1. As required by the Companies (Auditors Report) Order. 2003, issued by the Government of India in terms of Section 227(4A) of the Companies Act, 1956, We enclose in the annexure, a statement on the matter specified in paragraphs 4 and 5 of the said order Further to our comments referred to paragraph 1 above we report that:

a) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit.

b) In our opinion, proper books of accounts as required by law have been kept by the company so far as it appears from our examination of those books.

c) The Balance Sheet, profit & loss account and cash flow statement dealt with by this report is in agreement with the books of account.

d) In our opinion, the Balance Sheet, profit & loss account and cash flow statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3c) of Section 211 of the Act, 1956.

e) Based on written representations received from the Directors, as on 31 March 2012 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as on March 2012, from being appointed as a Director in terms clause (g) of sub-section 274 of the Companies Act, 1956.

f) In our opinion and to the best of our information and according to the explanation given to us. The annexed accounts read with the notes and Accounting Policies in Schedules give a true and fair view in conformity with accounting principles generally accepted in India

i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2012.

ii) In the case of profit & loss account of the profit for the year ended on that date.

iii) in the case of the cash flow statement, of the cash flows for the year ended on that date.

Annexure to Auditor's Report

1. There are no particulars to be specified regarding the fixed assets under items 4(i) and 4(ii)of the said order as the company has not acquired any major fixed assets during the Financial year

2. The company has not granted any loans, secured or un-secured to Companies, Firms or other parties listed in the register maintained under Section 301 & 370 (1-B) of the Companies Act. 1956.

3. The Company had not taken any loans, secured or un-secured from Companies, Firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956 or from Companies under the same management as defined under Section 370 (1-B) of the Companies Act, 1956

4. Internal control procedure commensurate with the size of the company and the nature of its business for the purchase of raw material, equipment, spares, other assets and for sale of goods are not applicable.

5. There have been no transactions for purchase of goods, materials, services and sale of goods, materials and services attracting the provisions of Section 301 of the Companies Act, 1958.

6. The Company has not accepted any deposits from the public during the year under review within the purview of Section 58A and 58AA of the Companies Act. 1956 and the rules framed there under.

7. Internal audit system is not applicable.

8. The maintenance of cost records under 209(1) (d) of the Companies Act, are not applicable

9. Provisions of Provident Fund Act and the Employee's State Insurance Act are not applicable to the Company.

10. According to the information and explanation given to us and the books examined by us. there are no amounts outstanding as on date of the Balance Sheet in respect of undisputed income -Tax, Customs Duty. Sales Tax and Excise Duty, for a period of more than six months from the date they became payable.

11. Items No 4(a)(ix) to 4(a)(xxi) of the said orders are not applicable.

For P. Srinivasan & Co. Chartered Accountants

Sd/- K. Ranganathan Partner M.No. 10842

Secunderabad 03-09-2012

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Mar 31, 2010

We have audited She Balance Sheet of Senthil Infotek Limited as at 31st March 2010 and the profit and loss account for the year ended on that date annexured here to and the cash flow statement for the period ended on the date. These Financial Statements are the responsibility of the Company's Management. Our responsibility is to express an opinion on these financial statements based on our audit.

We have conducted our audit in accordance with auditing standards generally accepted in India. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit Includes examining, on a test basis, evidence supporting the amount and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

1. As required by the Companies (Auditors Report) Order. 2003, issued by the Government of India in terms of Section 227(4A) of the Companies Act, 1956, We enclose in the annexure, a statement on the matter specified in paragraphs 4 and 5 of the said order Further to our comments referred to paragraph 1 above we report that:

i) We have obtained all the information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit.

b) In our opinion, proper books of accounts as required by law have been kept by the* company so far as it appears from our examination of those books.

c) The Balance Sheet, profit & loss account and cash flow statement dealt with by this report is in agreement with the books of account.

d) In our opinion, the Balance Sheet, profit & loss account and cash flow statement dealt with by this report comply with the Accounting Standards referred to in sub-section (3c) pf Section 211 of the Act, 1956.

e) Based on written representations received from the Directors, as oir 31 March 2010 and taken on record by the Board of Directors, we report that none of the Directors is disqualified as oh March 2010, from being appointed as a Director in terms clause (g) of sub-section 274 of the Companies Act, 1956. -

f) In our opinion and to the best of our information and according to the explanation given to us. the annexed accounts read with the notes and Accounting Policies in Schedules give a true and fair view in conformity with accounting principles generally accepted in India

i) In the case of the Balance Sheet, of the state of affairs of Company as at 31st March, 2010.

ii) In the case of profit & loss account of the profit for the year ended on that date.

iii) in the case of the cash flow statement, of the cash flows for the year ended on that date.

Annexure to Auditor's Report

1. There are no particulars to be specified regarding the fixed assets under items 4(i) and 4(ii)of the said order as the company has not acquired any 'major fixed assets during the Financial year

2. The company has not granted any loans, secured or un-secured to Companies, Firms or other parties listed in the register maintained under Section 301 & 370 (1- B) of the Companies Act 1956.

3. The Company had not taken any loans, secured or un-secured from Companies, Firms or other parties listed in the register maintained under Section 301 of the Companies Act, 1956 or from Companies under the same management as defined under Section 370 (1-B) of the Companies Act, 1956

4. Internal control procedure commensurate with the size of the company and the nature of its business for the purchase of raw material, equipment, spares, other assets and for sale of goods are not applicable.

5. There have been no transactions for purchase of goods, materials, services and sale of goods, materials and services attracting the provisions of Section 301 of the Companies Act, 1958.

6. The Company has not accepted any deposits from the public during the year under review within the purview of Section 58A and 58AA of the Companies Act. 1956 and the rules framed there under.

7. Internal audit system is not applicable.

8. The maintenance of cost records under 209(l)(d) of the Companies Act, are not applicable

9. Provisions of Provident Fund Act and the Employee's State Insurance""Act""are"'"not applicable to the Company.

10. According to the information and explanation given to us and the books examined by us. there are no amounts outstanding as on date of the Balance Sheet' in respect of undisputed income -Tax, Customs Duty. Sales Tax and Excise Duty, for a period of more than six months from the date they became payable.

11. Items No 4(a)(ix) to 4(a)(xxi) of the said orders are not applicable.

Secunderabad P. Srinivasan & Co

August 1, 2010 Chartered Accountants

K. Ranganathan Partner

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Mar 31, 2009

We have audited She Balance Sheet of Senthil Infotek Limited as at 31 March 2009 and the profit and loss account for the year ended on that date annexure here to and the cash flow statement for the period ended on the date. These Financial Statements are the responsibility of the Company's Management. Our responsibility Is to express an opinion on these financial statements based on ; our audit.

We have conducted our audit In accordance with auditing standards generally accepted In India. These standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit Includes examining, on a test basis, evidence supporting the amount and disclosures in the financial statements. An audit also Includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

1. As required by the Companies (Auditors Report) Order. 2003, issued by the Government of India In terms of Section 227(4A) of the Companies Act, 1956, We enclose In the annexure, a statement on the matter specified In: paragraphs 4 and 5 of the said order Further to our comments referred to paragraph 1 above we report that:

a) We have obtained all the Information and explanations, which to the best of our knowledge and belief were necessary for the purpose of our audit.

b) In our opinion, proper books of accounts as required by law have, been kept by the 'company so far as It appears from our examination of those books.

c) The Balance Sheet, profit & loss account and cash flow statement dealt with by this report Is In agreement with the books of account.

d) In our opinion, the Balance Sheet, profit & loss account and cash flow statement dealt with by this report comply with the Accounting Standards referred to In sub-section (3c) pf Section 211 of the Act, 1956.

e) Based on written representations received from the Directors, as on 31 March 2009 and taken on record by the Board of Directors, We .„ . , report that none of the Directors Is disqualified as on March 2009, from being appointed as a Director in terms clause (g) of sub-section 274 of the Companies Act, 1956.

f) In our opinion and to the best of our Information and according to the explanation given to us. the annexed accounts read with the notes and Accounting Policies In Schedules give a true and fair view In conformity with accounting principles generally accepted in India

I) In the case of the Balance Sheet, of the state of affairs of Company as at 31st March, 2009.

ii) In the case of profit & loss account of the profit for the year ended on that date.

Ill) In the case of the cash flow statement, of the cash flows for the year ended on that date.

Annexure to Auditor's Report

1. There are no particulars to be specified regarding the fixed assets under items 4(1) and 4(ll)of the said order as the company has not acquired any major fixed assets during the Financial year

2. The company has not granted any loans, secured or un-secured to Companies, Firms' or other parties listed In the register maintained under Section 301 & 370 (1- B) of the Companies Act. 1956. i

3. The Company had not taken any loans, secured or un-secured from Companies, Firms or otter parties listed in the register maintained under Section 301 of the Companies Act, 1956 or from Companies under the same management as defined under Section 370 (1-B) of the Companies Act, 1956

4. Internal control procedure commensurate with the size of the company and the nature of Its business for the purchase of raw material, equipment, spares, other assets and for sale of goods are not applicable.

5. There have been no transactions for purchase of goods, materials, services and sale of goods, materials and services attracting the provisions of Section 301 of the Companies Act, 1958.

6. The Company has not accepted any deposits from the public during the year under review within the purview of Section 58A and 58AA of the Companies Act. 1956 and the rules framed there under.

7. Internal audit system Is not applicable.

8. The maintenance of cost records under 209(l)(d) of the Companies Act, are not applicable

9. Provisions of Provident Fund Act and the Employee's State Insurance Act are not applicable to the Company.

10. According to the information and explanation given to us and the books examined by us. there are no amounts outstanding as on date of the Balance Sheet In respect of undisputed Income -Tax, Customs Duty. Sales Tax and Excise Duty, for a period of more than six months from the date they became payable.

11. Items No 4(a)(ix) to 4(a)(xxl) of the said orders are not applicable.

Secunderabad P. Srinivasan &.Co

August 1, 2009 Chartered Accountants

K. Ranganathan Partner